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Thain Improving Morale At Merrill Lynch

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After his well-received conference call and an appearance on CNBC, Merrill Lynch chief executive John Thain spoke to employees about the firm's future. His confident and well-informed remarks about the CDO market were peppered with wise-cracks that left the crowd of employees laughing out loud, according to a source present at the talk. The mood on the floor is said to be much almost cheerful. It's a great vote of confidence for the new CEO from a group that was wary of being lead outsider said to be sometimes robotic.
"Much improved from Stan's lame town halls," the source said.
We pressed our source for more information about the meeting but John Thain had to take another call.*
Merrill Lynch could not immediately comment on this story. We're pretty sure they were afraid we were going to ask them about the Turd War again.
The name "John Thain" has been changed to protect the identity of our source.